>Ruble breached 97 per dollar in Moscow trading on Tuesday
>Russians have increased their deposits in foreign banks
>The slump in Russia’s ruble shows little sign of abating amid high currency outflows and worsening foreign trade conditions as sanctions over the war in Ukraine take their toll on the economy.
>The ruble has weakened by 23% against the dollar so far this year, placing it among the three worst emerging-market performers with the Turkish lira and the Argentine peso. The ruble was trading below 97 per dollar on Wednesday and is nearing 100 to the greenback, a level last seen during the first month after President Vladimir Putin ordered the February 2022 invasion.
Let’s not forget that the Russian government made conversion taxes unbearable, so most that would trade roubles for dollars have to hold on to roubles, inflating it’s actual value.
I think the russian government could not care less about the rates of their currency of their economy. It could fall to 1000000 per dollar theyd still be in charge and commiting war crimes.
But all the Russian troll farm bots and Russian paid far right ‘gays are scary and Putin is amaZing’ shills kept repeating sanctions don’t work on Russia because Putin jerks off 6 times a day. Guess I was lied to 😢
5 comments
>Ruble breached 97 per dollar in Moscow trading on Tuesday
>Russians have increased their deposits in foreign banks
>The slump in Russia’s ruble shows little sign of abating amid high currency outflows and worsening foreign trade conditions as sanctions over the war in Ukraine take their toll on the economy.
>The ruble has weakened by 23% against the dollar so far this year, placing it among the three worst emerging-market performers with the Turkish lira and the Argentine peso. The ruble was trading below 97 per dollar on Wednesday and is nearing 100 to the greenback, a level last seen during the first month after President Vladimir Putin ordered the February 2022 invasion.
Let’s not forget that the Russian government made conversion taxes unbearable, so most that would trade roubles for dollars have to hold on to roubles, inflating it’s actual value.
I think the russian government could not care less about the rates of their currency of their economy. It could fall to 1000000 per dollar theyd still be in charge and commiting war crimes.
But all the Russian troll farm bots and Russian paid far right ‘gays are scary and Putin is amaZing’ shills kept repeating sanctions don’t work on Russia because Putin jerks off 6 times a day. Guess I was lied to 😢
Good. Hope it gets worse.